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Telstra acquires $110m retail ICT and Sprout business

Vita Group has been advised on the sale of its retail information and communication technology (ICT) and Sprout business to Telstra.

December 02, 2021 • By Jerome Doraisamy
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Firm: MinterEllison (Vita Group).

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Deal: Vita Group has sold its retail information and communication technology and Sprout business to Telstra, inclusive of 104 retail stores. It was agreed to against the backdrop of Telstra’s decision not to roll Vita’s licence to operate the retail ICT business under their Telstra Dealership Agreement beyond June 2025 and move to a 100 per cent corporate store model. 

 
 

Area: M&A.

Value: $110 million.

Key players: The Minter team was led by partner Gary Goldman, who was supported by legal consultant Anastasia Maynes, senior associate James Allen, associate Olivia Fielding, lawyer Famin Ahmed, and graduates Blaire O’Loughlin-Mills and Jenny Chen.

Deal significance: Mr Goldman said: “We were delighted to support Vita on this important transaction that helps them to shift their business model to focus on the opportunities that the health and wellness sector can offer.

“Importantly, despite the sale, Vita was not required to reapply for the ASX, and was able to remain listed without seeking readmission. We were pleased to be able to assist Vita in liaising with the ASX and help them to maximise their opportunities going forward.” 

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Jerome Doraisamy

Jerome Doraisamy

Author

Jerome Doraisamy is the managing editor of professional services (including Lawyers Weekly, HR Leader, Accountants Daily, and Accounting Times). He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.

You can email Jerome at: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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